25 February 2008 13:40 [Source: ICIS news]
DUBAI (ICIS news)--Egypt is targeting annual exports worth $1.7bn (€1.1bn) from eight projects currently under construction at a cost $6.6bn in the first phase of its petrochemical masterplan, Energy Minster Sameh Fahmi said on Saturday.
Hani Suleiman, CEO of Egyptian Petrochemical Holding Co (Echem), which was established to achieve this first phase of Cairo's masterplan, said that its $490m linear alkyl benzene project in
A 400,000 tonne/year ethylene plant with a total cost of $600m was currently at the feasibility study stage, Suleiman added at the Echem general assembly.
Egypt established the national masterplan to develop the petrochemical sector, in order to diverse its economy and to create job opportunities.
($1 = €0.67)
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